One of the most difficult decisions entrepreneurs have to make when starting a new business is what to name it. After all, your business name can make or break your company, if you do not choose your business name carefully.
Following are five tips to help you get started in making this important marketing decision:
- Domain name: If the domain name for your chosen business name is not available, it’s best to move on to a different business name. You want your domain name to correspond with your business name, and you certainly do not want potential customers ending up on a competitor’s web site by accident.
- Memorable: Choose a name that will be easy for people to remember. If people cannot remember your business name, it will be difficult for them to find you in the future, including online, if they decide they wish to do business with you at a later point.
- Reflective: Your business name should reflect what you do, and it should sound positive. If you choose a name that could reflect another type of business, people will be confused about what your business really does.
- Short: A short business name is much easier for people to remember than a business name that is long and has numerous words in it. An additional benefit of a short business name is for marketing materials, as it will work much better for logos and graphics.
- Easy to spell and pronounce: If your business name is difficult to spell and pronounce, it will be difficult to work with for branding purposes, and potential customers could be turned away.
Before making a final decision on your business name, run it by friends, mentors, etc., to get their feedback. Chances are they will be excited and honored that you’ve decided to share this important decision with them, and in turn provide you with their honest feedback, including some constructive criticism if they do not like your choice.
Do you want some feedback on a name idea? Leave it in the Comments section below.